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HomeMy WebLinkAboutResolution 2170 Authorizing loans from revolving fund for deficiencies in SID 611: 3-19-80 ........ '~.......-.---.~............---------'-"""""",~' .-_' --..-.----.-.-.............~___ ......-_....-v---.-.--......--~~ -__-.~ -,~ .~..-.-.-.......--.,'~...,.........'-..--~. ...__.--~-~ -- -.- - 494 COMMISSION RESOLUTION NO. 2170 A RESOLUTION PURSUANT TO STATUTORY PROVISIONS, SETTING OUT THAT THE CITY COMMISSION UNDERTAKES AND AGREES TO ISSUE ORDERS ANNUALLY AUTHORIZING LOANS OR ADVANCE FROM THE REVOLVING ACCOUNT TO THE EXTENT FUNDS ARE AVAILABLE AND TO PROVIDE FUNDS FOR SUCH REVOLVING FUND BY MAKING TAX LEVY AND LOANS AS THE COMMISSION DETERMINES NECESSARY. I WHEREAS, the City Commission of the City of Bozeman, Montana, did on the 13th day of June, 1979, pass a Resolution, creating Special Improvement District No. 611 for the purpose of paving streets, constructing curbs. gutters and sidewalks, installing street signs, water valves, manholes, and other appurtenances hereto, in said City; and, WHEREAS, the said Commission did on the 8th day of September, 1931, create Special Improvement District Revolving Fund under the provisions of what is now Section 7-12-4221 of the Montana Code Annotated, 1978, as amended; and, WHEREAS, on the 6th day of February, 1980, Grande & Company agreed to purchase the bonds to be issued by said District, upon condition that the Commission enter into the undertakings and agreements hereinafter set forth; and, WHEREAS, it is necessary and appropriate that the following undertakings and agreements be made by said Commission with respect to said revolving fund and special improvement district. NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman, Montana, that in connection with the issuance of Special Improvement District Bonds to I be issued to defray the cost of the improvements in the Special Improvement District hereinbefore specifically referred to the Commission hereby undertakes and agrees to issue orders, annually authorizing loans or advances from the revolving fund to the district fund of said district in amounts sufficient to make good any deficiency in the principal and interest accounts thereof to the extent that funds are available, and hereby further undertakes and agrees to provide funds for such revolving fund pursuant to the provisions of Section 7-12-4222(1) of the Montana Code Annotated, 1978, as amended, by annually making such tax levy (or, in lieu thereof, such loan from the general fund) as the Commission shall determine to be required to provide the funds sufficient for the purposes herein expressed, subject to the maximum limitations imposed by said Section 7-12-4222(1). The undertakings and agreements provided for herein are made pursuant to the provisions of Section 7-12-4225, of the Montana Code Annotated, 1978, as amended. PASSED AND ADOPTED this 19th day of March,--l980. / l I ATTEST: I y ;:/a." rit~ei-/f ~? COMMISSION RESOLUTION NO. 2170 _ ,,_~ _~, _ _ _,__..._ ._.............'~....., ~..~. ...-.....__~__.-...a................J__~ ___..........._ __ ___" _ _.......~_,___~_.... ,_. .__...... .....~----......_.. ._.. '.~~_,~_,~.. .__~&,~. ~ "_"~___' .,,-'~.__ _..i....-._ ",,~,~~_",~_ ,_,o.J.~"..~ --- -' --------------------- ---.---. -------- ------~- ..----,.-....--...........' _._--...-.....-~~----...-...,...-- --~ _...........-.......,--.-~......,.,..---..-.--~.-..---.--.--- . _.'--~.----_. . 495 State of Montana ) County of Gallatin) Ci ty of Bozeman ) I, Erna V. Harding. Clerk of the City Commission of the City of Bozeman, I do hereby certify that the foregoing Resolution No. 2170 was published by title and number in the Bozeman Daily Chronicle, a newspaper of general circulation printed and published in said City. in the issue dated the 23rd of March, 1980. and due proof of such publication is on file in my office. IN WITNESS WHEREOF. I hereunto set my hand and affix the corporate seal of my office this 25th day of April. 1980. I I COMMISSION RESOLUTION NO. 2170 ___.-.....-"'-"'....... _'._........_ _..a..-._.___~_.._ ~._...:.......... _.~ ... _" ,~_~ __........._~~.. __.-..... _~J.-_.__~... ,_....................._~.. ..........~........,.....--..-.... ...........-...---........~~_..._~ .~._ _,~ __ _.,~..,.....---______.~,.,'- .....~..............~....iIL.......,., ,---.~......... ........_~ ,. .-..-. .io-~_......~_.L__,_.~_ .._,.,.......